Benchmark Treasury yields rose to settle at 4.064%, the highest afternoon level of the year so far. Read the day’s full markets roundup here.
Stocks slipped. All three indexes ended in the red. The Dow industrials were off 232 points. The tech-focused Nasdaq Composite broke a six-session winning streak.
In bank stocks, Morgan Stanley fell after reporting quarterly results, while PNC was little changed. Goldman Sachs rose following sharply higher earnings. An index of bank shares fell.
Tesla stock rose after Chief Executive Elon Musk said he wants greater control of the electric vehicle maker.
Boeing continued tumbling as a long-awaited resumption of deliveries to China faces new delays. Spirit Airlines fell after a federal judge blocked its acquisition by JetBlue.
Oil futures retreated. Shell suspended shipments through the Red Sea to avoid attacks by Yemen’s Houthi rebels. Benchmark U.S. crude crept lower to finish a bit above $74 a barrel.
Shares of leading U.S.-listed Chinese companies fell, with the Invesco Golden Dragon China exchange-traded fund down nearly 4%. Chinese Premier Li Qiang on Tuesday sought to reassure investors about opportunities in his country.
Read More: Indexes Finish Lower as Investors Digest Bank Earnings